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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: zbyslaw owczarczyk who wrote (9220)	1/11/2001 11:10:41 AM
From: Bosco	Read Replies (2) \| Respond to of 14638

Hi all - I can understand why people here are p*ssed off at Mr Sagawa, considering his continuous -ve spin, but I'd rather concentrate on SSB Mr Henderson reasonable assessment dailynews.yahoo.com specifically, Solomon Smith Barney analyst Alex Henderson said Nortel's decision to freeze its staffing makes sense given the weak economic climate and widespread concerns that customers such as phone companies are slashing their spending plans. ``I think it's good news and in fact prudent of them,'' Henderson said. ``There are some segments of Nortel that do need to be cut, that need to be rationalized, and they've done a pretty good job of managing that. But when things are really booming you're not as focused on tightening your cost structure and taking out expenses.'' Older, slow-growth lines such as office phone systems, or private branch exchanges, could benefit from trimming, Henderson said. ``It is part and parcel of what we would expect most companies to do in this environment and it's not inconsistent with what Cisco just said they were doing,'' Anderson said. The chief executive of Cisco Systems Inc (NasdaqNM:CSCO - news), the world's largest supplier of Internet networking equipment, said on Wednesday it was not immune from a spending slowdown. Nortel, which grew to 86,000 employees last year from 75,000 in 1999, has mushroomed amid a string of acquisitions and a hiring spree Trimming 1,000 jobs after adding 11,000 is bad only to people with an ax to grind. To those pundits who would use "rumor" to justify their professional opinion is worse. In this case, Mr Henderson is head and shoulder above the other guy quoted in the article <VBG>! best, Bosco